605 Maple Ave · Elmira, NY 14904

$170,000

8 bd · 3.0 ba · 3,541 sqft · MultiFamily public records · 132 Days on market

Built 1900 8,685 sqft lot $48/sqft · 70% above area

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This duplex is a great investment on Maple Ave. Large 2 story home converted to a up / down duplex. This is a stately classic of a home with woodwork and charm everywhere. Currently both units are occupied Front porches for both units. 2 car split garage in the back. Plenty of parking, and plenty of yard Showings for this duplex begin on Friday 2/13/2026

Key facts

• 2 car split garage
• Plenty of parking
• 2 story home

Tags

• 2 STORY HOME
• WOODWORK AND CHARM
• FRONT PORCHES
• 2 CAR SPLIT GARAGE
• PLENTY OF PARKING
• PLENTY OF YARD

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive. Per door: $215/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#832 in NY) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Elmira City School District (urban): math 23% / reading 35% proficiency, ranked #580 of 590 in NY (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 101 active listings in the ZIP; 91 units permitted in Chemung County in 2024 (63 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chemung County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $127k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 6.3

CMA / ARV

• ARV (median comp): $99,857
• List price: $170,000
• Delta: 70.24%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
166-170 Boardman St	0.60mi	7/2.0 (-1)	3,418 (-4%)	16mo	$60,000	$18	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $17
• Equity at exit: $25,348

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $35,898
• Equity at exit: $14,698

Cash invested: $47,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14904

• Home prices YoY: -9.6%
• Active inventory: 101
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$891
• Tax from tax record: −$385 /mo · $4,624/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $431

Break-even live

Break-even rent $1,706

Max offer price $170,000

Occupancy floor 76%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,252
Total (2 units)			$2,251

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $170,000 Active 132 DOM
2. 2026-06-18
   days on market $170,000 Active 131 DOM
3. 2026-06-17
   days on market $170,000 Active 130 DOM
4. 2026-06-16
   days on market $170,000 Active 129 DOM
5. 2026-06-15
   days on market $170,000 Active 128 DOM
6. 2026-06-14
   days on market $170,000 Active 126 DOM
7. 2026-06-12
   days on market $170,000 Active 125 DOM
8. 2026-06-09
   days on market $170,000 Active 122 DOM
9. 2026-06-08
   days on market $170,000 Active 121 DOM
10. 2026-06-07
    days on market $170,000 Active 120 DOM
11. 2026-06-05
    days on market $170,000 Active 117 DOM
12. 2026-06-03
    days on market $170,000 Active 116 DOM
13. 2026-06-02
    days on market $170,000 Active 115 DOM
14. 2026-06-01
    days on market $170,000 Active 114 DOM
15. 2026-05-31
    days on market $170,000 Active 113 DOM
16. 2026-05-30
    days on market $170,000 Active 112 DOM
17. 2026-02-07
    listed $170,000 Active 364-char remark

    Show marketing remark (364 chars)

    This duplex is a great investment on Maple Ave. Large 2 story home converted to a up / down duplex. This is a stately classic of a home with woodwork and charm everywhere. Currently both units are occupied Front porches for both units. 2 car split garage in the back. Plenty of parking, and plenty of yard Showings for this duplex begin on Friday 2/13/2026

18. 2025-12-16
    historical
19. 2025-10-18
    status Active
20. 2025-10-13
    historical Active Under Contract
21. 2025-09-26
    listed $170,000 Active
22. 2022-10-03
    soldstatus $127,000
23. 2022-09-23
    soldstatus $127,000
24. 2022-04-27
    listed $127,000
25. 2000-07-13
    soldstatus $68,000
26. 2000-07-13
    soldstatus $68,000
27. 2000-04-22
    listed $74,500
28. 1995-07-25
    soldstatus $63,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $4,624 · $385/mo
• Projected year-2 tax: $4,624 · $385/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,012
• − Mortgage interest: −$9,523
• − Property taxes: −$4,624
• − Insurance: −$850
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$4,945
• Taxable income: $2,748
• Est. tax owed @ 24.0%: −$659
• After-tax cash flow: $4,508/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Elmira City School District
• NCES district ID: 3610560
• Math proficiency: 23% ▼ -7.00%
• Reading proficiency: 35% ▲ 7.00%
• Median HH income: $40,180
• Composite: 24.39/100
• National rank: #7688
• State rank: #580 of 590 in NY

Livability — Elmira

• Score: 62/100
• State rank: #832
• US rank: #16139

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmira, NY
• City population: 14,276
• Population (ZIP): 14,276

Population outlook (Chemung County) Hauer SSP2

• Today (2025): 82,931 people
• By 2030: 80,356 · -3.1%
• By 2040: 74,745 · -9.9%
• By 2050: 69,012 · -16.8%
• By 2075: 55,689 · -32.8%
• By 2100: 41,428 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Black 7% Hispanic / Latino 5% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica, Dominican Republic
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Chemung

• 2024 margin: R (+16.8) · D 41.6% · R 58.4%
• 2008→2024 swing: -15.6pp toward R · 2008: -1.2pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+13.4 2016: R+20.0 2012: R+2.9 2008: R+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.33%
• Current HPI: 220.688
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+169.8% since first listed

12 events — show timeline

• 2026-02-07 Listed $170,000 UNYREIS
• 2025-12-16 Listing Removed — UNYREIS
• 2025-10-18 Relisted — UNYREIS
• 2025-10-13 Contingent — UNYREIS
• 2025-09-26 Listed $170,000 UNYREIS
• 2022-10-03 Sold (Public Records) $127,000 Public Records
• 2022-09-23 Sold (MLS) $127,000 UNYREIS
• 2022-04-27 Listed $127,000 UNYREIS
• 2000-07-13 Sold (Public Records) $68,000 Public Records
• 2000-07-13 Sold (MLS) $68,000 UNYREIS
• 2000-04-22 Listed $74,500 UNYREIS
• 1995-07-25 Sold (Public Records) $63,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $4,624 · -17.0% YoY. Source: county tax records.